Durbin: Bipartisan solution a must for 'fiscal cliff'

Illinois Senator Dick Durbin is optimistic that U.S. President Barack Obama and congressional leaders can reach a deal to avoid the ''fiscal cliff.''

Durbin spoke to the liberal think-tank Center for American Progress on Tuesday. If an agreement isn't reached, spending cuts and tax increases will go into effect on January first. Some people say that could drive the country back into a recession.

Durbin repeated a call for increased tax rates on those making more than $250,000. He also says House Speaker John Boehner needs to agree to a bipartisan solution.

"I hope that Speaker Boehner will just agree to one basic principal and I think we can get this done, that the solution on the House side has to be a bipartisan solution. It has to be bipartisan. But if this is going to be an exclusive Republican solution on the House side, I'm afraid we're going to reach the same impasse we have in the past," Durbin said.

Currently there are no face to face meetings planned between President Obama and congressional leaders to discuss the matter.